On an early summer morning in June 2013 as I walked in for my first class meet at Columbia, glimpses of previous few months and the next year-and-a-half flashed in my mind. It was a surreal feeling being a student again. Just a few months before that, I was an education consultant with Innervision Inc., helping students make those crucial decisions about their higher education. With every student I met, my resolve to pursue a master’s course in a field of my choice strengthened. One fine day, my wife and I gave it some serious thought and I decided to take the dive.
With six years of experience working in technology and education, my decision to pursue Master’s in Actuarial Science was a calculated move. Actuarial science was at a nascent stage in India and we were strongly recommending it to students with an aptitude in math. I had long been contemplating possible options, and, with my in-laws’ help, zeroed in on this career path that would challenge me at every level. It's only when you take the jump you realise how much you've lost standing by the cliff!
I was drawn to Columbia's programme because of the choice of electives it provided, strong network, support framework and curriculum. When I got my acceptance letter, I shifted gears to prepare for getting the credentials. Entering the Actuarial profession is both easy and hard. To be considered a strong candidate, you need to pass minimum two preliminary exams, have a strong GPA and ideally a few related internships. Since the profession is highly regarded and there are no specific academic prerequisites, the entry-level market is extremely saturated. Another interesting aspect I learnt was that though past work experience is valued, it isn't necessarily factored in when you apply for jobs. You start at the entry level, climb up as you pass exams and gain experience and eventually get the credentials.
The internship phase is an intriguing catch. Career-changers have an edge since their experience brings great value-addition to the team. On the other hand, you are more likely to get an internship if you are a current student enrolled in a related programme; passing exams is an obvious game-changer. I cleared the first preliminary exam in Fall 2013 and interned with Deloitte Consulting in their Actuarial and Advanced Analytics (AAA) service line. In 2014, I interned with a start-up insurance firm — Atikus Insurance. In the same year, I cleared the second exam and started applying for full time positions. Equipped with two internships and exams, I was very confident of my profile. Though it took some time to get used to setting aside six years of work-experience and playing the entry-level game, I found a great match at Towers Watson — a leading global professional services company. With this move, I enter the property and casualty side of the insurance business. A huge roller-coaster ride awaits and time will tell how fast it goes.
